Baz Luhrmann is seen "warming his hands" on a trash bin fire outside an art party in the South Bronx, hosted by real estate developers. (Rob Kim/WireImage)

A swanky, celebrity-studded art party held to drum up support for two massive luxury towers along the South Bronx waterfront was met with raised eyebrows from critics who said the choice of "art" was in poor taste.

The Thursday night bacchanalia in the Boogie Down, hosted by developers hoping to turn Port Morris into the next Williamsburg, featured questionable aesthetics including two burnt out cars riddled with bullet holes and trash bin fires outside the venue.